www.paintshow.com.br
24
Outubro 2010
PAINT & PINTURA
company of Hexion Specialty Chemicals Inc., have join-
tly announced an agreement under which their newly-
formed holding companies will merge, creating a global
leader in specialty chemicals and materials.
The boards of both holding companies have unanimou-
sly approved the merger, which is subject to customary
conditions. Closing is anticipated to occur October 1st.
The new company will operate under the Momentive
Performance Materials name.
The capital structures of both Momentive Performance
Materials Holdings Inc. and Hexion LLC and their res-
pective subsidiaries will remain separate and in place.
Upon closing, with 117 production facilities, more
than 10,000 associates, pro forma annualized sales of
approximately US$ 7.5 billion and adjusted EBITDA of
US$ 1.24 billion, the new Momentive will be one of the
world’s largest specialty chemicals and materials com-
panies. The new company will have operations located
to serve all major regions of the world with a broad
portfolio of specialty performance products for indus-
trial and consumer markets.
Affiliates of investment firm Apollo Management L.P.
own a controlling interest in both Hexion and Momen-
tive. Based in Columbus, OH, Hexion serves industrial
customers with a wide range of specialty chemicals.
Momentive, based in Albany, NY, provides industrial
customers and consumers with silicone- and quartz-
based specialty materials.
“We believe the time is right to unify these two compa-
nies into a global leader in the specialty materials spa-
ce,” said Josh Harris, Managing Partner and co-founder
of Apollo Management. “Once the transaction is
completed, the combined company will be able to pro-
vide customers with a full range of specialty chemicals
and materials and will have significant operations in
virtually all major world markets. The transaction does
not require any additional financing and will result in
significant synergies that will enhance the financial
profile of the new Momentive.”
The new company will be headquartered in Colum-
bus, OH, and will maintain a significant presence in
Albany, NY, where its silicones business will continue
to be headquartered.
Hexion Specialty Chemicals was formed in 2005 through the
combination of Borden Chemical Inc., Resolution Perfor-
mance Products Inc., Resolution SpecialtyMaterials Inc. and
Bakelite AG. Momentive PerformanceMaterials was formed
in 2006 through the acquisition of GE AdvancedMaterials.
Industry in the Spotlight - Experience with
innovation
Celebrating 45 years of activity, Cleomar Química,
located in Indaiatuba, São Paulo, currently provi-
des around 60 items for manufacturers of decorative
paints, printing inks, industrial coatings, plastics and
other products. It CEO Cleomar Grillo started out as a
latex paint manufacturer in São Paulo. “I started pro-
ducing latex paints when I was 23 years old, followed
by industrial coatings after a while, and then I started
to development pigment and pigment dispersions for
textiles. That was when I ceased to produce paints, and
we specialized in pigments,” Grillo says.
In 1983, the company began to produce alpha phtha-
locyanine blue pigments under the Insol brand, and in
1987 we launched our chrome yellows and molybdate
orange under the Dursol brand. “Now we have quite
an interesting portfolio consisting of phthalocyanine
pigments, chrome yellows, molybdate oranges and wa-
terborne pigment preparations. We serve customers in
the decorative paint, printing ink, industrial coatings,
plastic and other industries. We still want to develop
new pigments for the future,” Grillo announces, adding
that it’s been 45 years of hard work to meet customer
requirements. “Our products have been developed inside
our company, with our own capital and technology.”
The latest launch from Cleomar Química, a company
that is constantly developing its business, is a yellow
pigment featuring great lightfastness. “We focus on
developing products with distinguishing features for
our customers, and this is how we behave as partners,
making us a more and more solid business,” says Wag-
ner José de Moraes, sales manager.
Industry in the Spotlight - Quality equipment
Arquímica was founded in 1996, in Europe, on the back
on the experience built up over more than 40 years in
the coatings industry, and is now present especially in
Spain, Portugal and, more recently, Germany and Mo-
rocco. “We are engaged in chemical distribution with
two separate product lines, one of raw materials for
coatings, paints, printing inks, varnishes and cons-
truction, the latter including cements and plaster, and
one consisting of raw materials for pharmaceuticals,
cosmetics and foods,” says Luis Alonso, business director
at Arquímica.
In addition to the chemical distribution division, Arquí-